The tier-one lender grew pre-tax profit by 9 percent to N198 billion in 2018 but expects a 2 percent increase in earnings in 2019 to N220 billion, according to the 2018 full year investors presentation on its website.

Guaranty Trust Bank also anticipates its loan growth to grow by 10 percent in 2019, after sliding 13 percent in the previous year and 9 percent in 2017.

Customer deposits are projected to rise by 12 percent, more than 10 percent deposits growth achieved in 2018. The lender projects its net interest margin to hit 9 percent, lower than a record of 9.2 percent in 2018 and 10.4 percent a year earlier.

Return on average equity is put at “above 25 percent” in 2019 as against 30.9 percent recorded last year, while return on average assets is expected to grow beyond 5 percent after recording 5.6 percent and 5.2 percent in 2018 and 2017, respectively.

The tier-one lender proposed a final dividend of N2.45 per ordinary share held as of April 8. But in spite of these, the bank’s stock has dropped 1.71 percent to N37.3 as at the close of business on Monday.

Business Day, established in 2001, is a daily business newspaper based in Lagos. It is the only Nigerian newspaper with a bureau in Accra, Ghana. It has both daily and Sunday titles. It circulates in Nigeria and Ghana